Question:Your employer offers a 401(k) plan with a 45% match, and you
set a goal of...
Question
Your employer offers a 401(k) plan with a 45% match, and you
set a goal of...
Your employer offers a 401(k) plan with a 45% match, and you
set a goal of retiring in 32 years with an amount of money which
has the same buying power that 1.4 million dollars has today. If
the account earns an annual interest rate of 1.7% and the expected
annual rate of inflation is 1.9%, how much should you contribute
each month to the 401(k)?